Qualcomm talks job cuts and break-up

With the realignment plan Qualcomm aims to “aggressively right-size” the cost structure by eliminating approximately USD 1.4 billion in spending. This will be achieved via reductions in headcount – reducing roughly15% full-time employees – and temporary workforce, streamlining the engineering organization as well as reducing the number of offices and increasing the mix of resources in lower-cost regions.

The company will also review its corporate and financial structure. With the assistance of outside financial advisors, Qualcomm will conduct a review of its corporate structure – this includes possible business separation alternatives – capital return opportunities and other potential strategic and financial alternatives.